Dynamoney appoints Brett Thomas as CEO to drive SME finance growth
Australian commercial finance provider Dynamoney has appointed Brett Thomas as its new Chief Executive Officer as the company signals expanded growth ambitions and an enhanced offering for small and medium-sized businesses.
Thomas joins Dynamoney with more than 25 years' experience in commercial lending, taking on the role at a time when the lender reports its loan book has increased by 50% over the past year. This growth has reportedly been supported by wholesale lending partnerships with two major Australian banks.
Prior to this appointment, Thomas worked at Wells Fargo for the past ten years, most recently as Managing Director, ANZ. He also spent 16 years at GE Capital, serving as a Commercial Leader.
Leadership transition
Dynamoney Executive Chairman and interim CEO, Greg Woszczalski, described the arrival of Thomas as a significant milestone for the lender as it looks to maintain its current growth trajectory and continue delivering on its mission to support Australian SMEs.
"We have a growing national footprint and to have someone of Brett's calibre lead our high-performing team is a significant milestone for the business and signals our intent to continue our strong growth trajectory," Mr Woszczalski said.
He added, "The commercial lending market continues to be reshaped, with alternate, specialist lenders disrupting the status quo by offering more tailored and flexible funding sources.
"Brett brings the expertise, leadership, and industry knowledge needed to take advantage of this disruption and guide the business through its next phase of growth. We see significant opportunities to further expand our breadth of clients, grow our lending footprint, and position our product offering to support even more Australian SMEs."
Dynamoney was established in 2015 with the stated objective of supporting small and medium-sized businesses, and currently offers a suite of SME financing solutions that include equipment and asset finance, business lending, lines of credit, and insurance premium funding.
CEO perspective
Thomas commented that his priorities as CEO will be operational simplicity, process excellence, and creating a strong, people-first organisational culture, with the aim of establishing Dynamoney for long-term, sustainable success.
"I am thrilled to be joining Dynamoney at such an exciting time in its journey. The business has a strong foundation, a talented team, and a clear purpose in supporting the growth of Australia's small and medium-sized businesses," Mr Thomas said.
He continued, "SMEs are the lifeblood of Australia's economy, making up over 97 percent of all businesses. Having grown from a small business ourselves, Dynamoney has a unique understanding of the challenges and opportunities that SMEs face every day. We are laser-focused on becoming the SME lender of choice and helping these businesses with expert guidance and relevant technology-led solutions.
"As we look to the future, we will continue to innovate, ensuring our products, processes and systems meet our customers' evolving needs. I look forward to working alongside the team, our partners, and customers as we accelerate and shape the next chapter for Dynamoney, our brokers, and our customers."
SME finance market
Dynamoney reports that its growth is being fuelled by a shift in the commercial lending landscape, with increasing interest among SMEs in tailored and flexible finance solutions provided by specialist lenders. The company states that it aims to further broaden its client base and lending footprint in order to support more Australian businesses.
The business currently offers a range of financing options to SMEs, including equipment and asset financing, business loans, credit lines, and insurance premium funding. According to the company, Dynamoney has a national presence and employs more than 80 staff across five Australian states.
